You are ready to buy a house, and you have $50,000 for a down payment and closing costs. Closing costs are estimated to be 2% of the loan value. You have an annual salary of $40,000, and the bank is willing to allow your monthly mortgage payment to be equal to 20% of your monthly income. The interest rate on the loan is 4% per year with quarterly compounding for a 10-year fixed rate loan. Q1: How much money will the bank loan you at max.? Q2: How much can you offer for the house? Please show all your calculations to gain partial points. (Do not use thousand seperator and use